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It can be difficult to keep up with everything that is happening in the markets. Here's a map-heavy spin through some of the great stories you need to know.
📈 Approaching another record. Which pandemic? The S&P 500 arrived during a series yesterday ̵
✈️ Flying high (well, higher). US airlines have received about 15 percent in the last two weeks, amid signs that a boom in registered virus cases has not deterred any travelers. Sunday was the third best travel day for the pandemic, according to statistics for screening for airport security, at 31 percent of the number of people shown on the same day last year – but there is still a long way to go for a full recovery.  🎮 Play games. Video game shares have received more than 50 percent this year, making them an even bigger quarantine hit than Netflix, which has received around 40 percent at the same time, as Bloomberg points out. All the time people have spent with new games – many of which charge recurring subscriptions – can give the sector momentum after the economies have reopened, analysts say.
🚗 Tesla's irrational effervescent significance. There are many reasons why Tesla is one of the hottest stocks around, but the gain of 13 percent yesterday after news of the 5-for-1 share split – and added more than $ 30 billion in market capitalization – is one of the weakest. Nothing about the business has changed, and although it makes buying a single stock more accessible, most brokers, including Robinhood, already allow investors to swap fractions.
Today's DealBook Briefing was written by Andrew Ross Sorkin in New York, and Geneva Abdul and Jason Karaian in London.
Here's what's going on
Use a mask to save the economy, "said Fed officials. "Common sense precautions" to limit the spread of coronavirus are less costly than re-impressing shutdowns, said Eric Rosengren, president of the Boston Fed, in a speech. The economic recovery has been "dampened" by uneven "compliance with protocols" such as wearing masks, Dallas President Robert Kaplan said in a speech: "While people can feel freer, the economy will grow more slowly," he said. .  Sumner Redstone, "Hollywood Brawler," died at the age of 97. The media mogul's ruthless deal turned a number of run-in cinemas into the scattered ViacomCBS conglomerate. As The Times has told Ed Lee: "He was not so much an innovator as he was a maximum opportunist. He did not invent new forms of entertainment; he used cagey maneuvers to build an empire. He had the gallows to borrow wicked sums for
The Chinese Communist Party's elite has a large economic stake in Hong Kong. Relatives of three of the party's four top leaders has bought luxury property in the city worth more than $ 51 million, according to a new investigation by The Times, among them the daughter of Li Zhanshu, who oversaw the introduction of China's controversial national security law in Hong Kong, and drastically hindered politics protest and dissent.
New Zealand's infection-free streak is over. Before this week, the country had gone more than 100 days without new locally transmitted coronavirus cases. Today it reported 13 fl are such infections, possibly related to freight transport, and brought the active cases to 36. Yesterday reimposed the lockdown in Auckland.
News without a newsroom. The Daily News, once the largest newspaper in the United States, permanently closes its newsroom in Lower Manhattan. The pandemic's impact on advertising revenue led the tabloid's owner, Tribune Publishing, to "reassess our need for physical offices." In other office news, the retailer REI puts its almost complete, never-used business campus in Seattle up for sale, and instead decides to distribute its employees on several websites.
What does Warren Buffett buy?
Speaking of markets, investors will look at what the Berkshire Hathaway chairman has bought and sold when his company submits the quarterly 13F document, which will detail the stock holdings by the middle of the year. The form is due by the end of the day tomorrow.
Wall Street calls the afternoon document dump "whale safari", because investors pore in submissions from the likes of Berkshire and other major market players to see what "smart money" does. Some investors try to stay ahead of the news by making their own guesses.
• One piece of chatter that makes the rounds is about Berkshire's $ 9 billion stake in Wells Fargo. Based on potential clues in Berkshire's recent earnings reports – and omitting to mention the bank as a top-five stake in its latest report, along with a fall in the cost base of the group's "banks, insurance and finance" portfolio of several million dollars – think that Mr Buffett may have dumped the stock.
• Berkshire said last month that it had added more than $ 500 million to its stake in Bank of America, so Mr. Buffett's conglomerate is not angry with the banks in general. But we will know for sure soon.
More charts? More charts!
We're not done yet.
📸 Pivot to pharma. In the latest twist to the saga of Kodak's shift from photography to drugs, the US government said it would extend a $ 765 million loan for retrofit pending an investigation into the circumstances of executive stock option allotments around time loan announcement, which sent the company's shares soaring. Recent lobbying and charity donations from people associated with the company are also attracting.
[1945 Sender and message. On Monday, police attacked the office of Hong Kong's largest newspaper for democracy and arrested the owner, Jimmy Lai, using force in a new national security law. Supporters of the media company Next Digital bought the stock as a show of solidarity, and produced a huge, volatile spike in the share price. Mr. Lai, who was released yesterday, promised a "long-running struggle" for democracy.
🔑 An update on Hertz. One of the most unexpected market trends in recent months was the car rental company Hertz's attempt to sell up to $ 500 million in new shares after it filed for bankruptcy protection in May. In a filing this week, Hertz said it had sold $ 29 million in shares before S.E.C. stop the action. The shares are now trading below where they were before the filing of Chapter 11, and well below the subsequent urge driven by day traders that led the company to try to issue new shares that may be worthless when a restructuring is completed.
🚚 A garbage deal. The electric truck manufacturer Nikola announced an order for up to 5,000 sanitary vehicles, which it said it would deliver from 2023. The company, which went public by merging with a "blank check" company this year, earned $ 3 billion in market value on the news. It is now valued at around $ 16 billion, about the same as Subaru, despite not having sold a single vehicle.
💉 Promises, promises. The Times's David Gelles and Heather Murphy delved into the history of Inovio, a biotechnology company in Pennsylvania that has spent years claiming to be involved in important vaccines. Although it has never brought one to market, news of its trials has repeatedly sent stocks spiraling higher – the latest (and biggest) following the news of a potential Covid-19 treatment, with previous bumps following swine flu announcements, Zika and even a "cancer vaccine."
• Goldman Sachs and Barclays are reportedly among the bidders to acquire the $ 3 billion General Motors credit card company. in outstanding balance. ( WSJ)
• Palantir is reportedly planning to go public late next month, via a live entry. (Bloomberg)
• "Can SPACs shake off their bad reputation?" (FT)
Politics and Politics
• The United States said it would maintain a 15 percent tariff on Airbus aircraft and shift related taxes on products from the UK and Greece to goods imported from France and Germany . (CNBC)
• Despite tough gun control laws, UK police say firearms are being smuggled into the country in increasing numbers from the US (NEWS)
• Google, Facebook and other technology companies met US authorities yesterday to share insights into the fight against misinformation in the run-up to the November election. (NEW)
• President Trump's restrictions on WeChat may make it harder to download the popular app on iPhones in China, turning them into "electronic junk." ( Bloomberg)
Best of the rest
• Banks are upgrading their monitoring capabilities for home-based traders. (Bloomberg)
• A 107-page safety manual, temperature scanners and vacuum-sealed meals: Filming for "Jurassic World: Dominion" is a post-pandemic test for Hollywood. (NEW)
• A forensic examination of Elon Musk's emoji use. (Emojigraph)
Thanks for reading! See you tomorrow.
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